The total amount of money accrued ( principal and interest ) in 35 years is $570.78.
<h3>What is the total amount accrued?</h3>
The formula for compound interest is expressed as;
A = P( 1 + r/t )^(n×t)
Given the data in the question;
- Principal P = $200
- Rate r = 3% = 3/100 = 0.03
- Compounded monthly n = 12
- Time t = 35
- Amount accrued in 35 years A = ?
Plug the given values into the equation above.
A = P( 1 + r/n )^(n×t)
A = 200( 1 + 0.03/12 )^(12×35)
A = 200( 1 + 0.0025 )^(420)
A = 200( 1.0025 )^(420)
A = 200( 2.85390914 )
A = $570.78
Therefore, the total amount of money accrued ( principal and interest ) in 35 years is $570.78.
Learn more about compound interest here: brainly.com/question/27128740
#SPJ1
Answer:
6x - 8
Step-by-step explanation:
2(3x – 4)
Distribute
2*3x - 2*4
6x - 8
9+3=12
30+20=50
300+100=400
Then add.
12+50+400=462
<span>So 339+123=462</span>
Answer:
Combine like terms.
Step-by-step explanation:
3x+2y=16
Answer:
12 3/8 feet
Step-by-step explanation:
Because 4 1/2 times 2 3/4 equals 99/8, then 99 divided by 8 equals 12 3/8.
